VRA Partners Advises Southwire on its Divestiture of Watteredge to NESCO
VRA Partners, LLC is pleased to announce that Southwire Company, LLC ("Southwire") has divested its Watteredge business unit, a manufacturer of electrical components, connectors and a variety of other custom engineered products, to NESCO, Inc. ("NESCO"). The transaction closed on December 18, 2020. VRA Partners acted as the exclusive financial advisor to Southwire on the transaction. Terms of the transaction were not disclosed.
A leader in technology and innovation, Southwire is one of North America's largest wire and cable producers and an emerging influence in the industrial electrical space. Southwire and its subsidiaries manufacture building wire and cable, metal-clad cable, portable and electronic cord products, OEM wire products and engineered products. In addition, Southwire supplies assembled products, contractor equipment and hand tools.
The NESCO family of companies serves a diverse range of industries helping to bring quality, innovation, and efficiency to domestic and global markets. Headquartered in Cleveland, Ohio, NESCO holds a more than 60-year legacy of commitment to its customers in groups including Industrial Manufacturing, Engineering and IT Professional Services, Exhibits and Marketing Services and Commercial and Industrial Real Estate. Specifically, NESCO's 30+ year emphasis on Industrial Manufacturing focuses on highly engineered components. Southwire's Watteredge products, including bus bar systems, battery and bus bar copper connectors, laminated shunts, resistance welding cables, industrial rubber hoses and a wide variety of other custom engineered products are a good fit with NESCO's business model and customer base.
VRA Partners, an independent Atlanta-based investment bank, focuses on providing M&A services to leading middle-market companies and private equity firms. VRA Partners also assists companies with raising capital for growth, acquisitions, recapitalization, going-private and management buy-out transactions, and provides fairness opinions, valuations and strategic advisory services. The professionals of VRA Partners have completed more than 600 transactions across a broad range of industry sectors, including consumer and retail, business services, healthcare services and technology, industrial products and services, and technology and communications. VRA Partners, LLC is a Member FINRA/SIPC. For more information, please visit our website at www.vrapartners.com.
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Chris Reilly, Director - Originations